Elasticity of demand for search (Q1978771)
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scientific article; zbMATH DE number 1454490
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| English | Elasticity of demand for search |
scientific article; zbMATH DE number 1454490 |
Statements
Elasticity of demand for search (English)
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4 June 2000
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This paper investigates the demand elasticity of search. We provide a new characterization of monotone hazard rate and of the first-order condition determining the optimal reservation price, and prove that the demand for information is elastic if the hazard rate function \(h\) for the distribution of offers is decreasing and inelastic if \(h\) is increasing.
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search
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elasticity
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hazard rate
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0.81434953
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0.78699005
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0.78015274
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0.76394254
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0.74755573
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